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What age to be a millionaire?

At What Age Did Your Net Worth Exceed $1MM

  • I don't understand the question

    Votes: 14 6.5%
  • 20's

    Votes: 8 3.7%
  • 30's

    Votes: 47 22.0%
  • 40's

    Votes: 45 21.0%
  • 50's

    Votes: 18 8.4%
  • 60+

    Votes: 3 1.4%
  • Still Hammering

    Votes: 79 36.9%

  • Total voters
    214
I’ll never be rich but I’ll be comfortable and get to hunt/fish/golf/etc whenever I want to for however long I don’t want to be at work, that in itself is worth more than a million to me. Others I know on a similar path seem to be a lot happier than the guys making the big dollars. My kids will benefit as well. A present, engaged parent means more than any dollar amount to a child.

I loved college, definitely helped me get hard drinking, late nights, and chasing loose women out of my system, which has probably made me a better husband and dad, and hunter. Wish I would’ve hunted more back then, but my priorities were definitely in a different place, but I had a lot of fun.
 
Eighteen pages already. Wow!

One thing that humbles this millionaire everytime I go to Africa to hunt is observing the "poor people" who live in the local villages. They can be happy living in relative poverty. I am now wealthy but I choose to live the same lifestyle as when I was a "poor" working man. My family was happy enough back then with that. Family is gone now but I keep them alive by keeping things the same.
 
Looking at the averages for HS/vocational vs bachelors. What would the value be of not having any student debt Plus an additional 4 more years of earning money and contributing to your retirement in your 20's? I know it certainly doesn't close that gap but it's something to consider.

Certainly, that would math out and probably close the gap.

Couple things though, (1)I think it’s pretty obvious HT has a higher income than average, which means any of our personal experience is skewed towards higher income, those are just the people we know, doesn't really matter whether it's skilled trades or office work. Hence @neffa3 comment, that seems low.

(2) Even on this site a decent number of those in the skilled trades have college degrees. Which helps demonstrate that HS only does not equal trades nor a college degree an office job. I think we need to separate Skilled Trades from educational attainment they are not synonymous. Do folks in the Skilled Trades earn well, definitely, as well as white collar jobs, yep. Hence the ability to banter here about out of state hunting.

About ~40% of the labor force has a college degree, about ~20% of jobs are in the trades. 164MM in the workforce 34MM in the Skilled Trades.

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Most folks with a HS degree therefore don't work in the trades, they work in low wage retail, service, etc. Those jobs do not typically have benefits, they don't have a union, retirement, healthcare, etc.

So yes if you didn't take on student debt, became an electrician and saved you would outstrip the lifetime net worth of the mean and media of someone with a BA.

But lots of electricians have degrees, and most folks with a HS degree don't become electricians, and don't have the ability to save.

Over and over on HT folks say, folks shouldn't get a college degree they should go into the trades...

Why aren't people without degrees going into the trades is the bigger question?
 
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(2) Which helps demonstrate that HS only does not equal trades nor a college degree an office job. I think we need to separate Skilled Trades from educational attainment they are not synonymous. Do folks in the Skilled Trades earn well, definitely, as well as white collar jobs, yep. Hence the ability to banter here about out of state hunting.
I totally agree with all of this.
 
Most folks with a HS degree therefore don't work in the trades, they work in low wage retail, service, etc. Those jobs do not typically have benefits,
Idk there's quite a few Jobs that offer benefits with a HS degree nowadays. Starbucks has a bargaining agreement. Organized labor has been making some big strides recently.
 
In our little corner of the building u/verse it's the degreed project managers who are most prone to pencil screw ya...pun intended. The larger metro based GC's have the smallest and sharpest 'pencil'...

There are so many things that can go wrong, all of which has contract language that an unwitting sub will gleefully indemnify.

So yea, little firms better read & qualify. And it sure helps to have matriculated some type of multi comprehensible higher level learning construct.
 
Why aren't people without degrees going into the trades is the bigger question?
1. Just a current personal experience, my little brother graduates high school in May. He’s starting his electricians apprenticeship in June. Because of his good grades, the school counselor has had him in her office 3 times that I’m aware of discouraging trades and encouraging him to go to college.
2. Trades are a lot of work and it can really suck when you’re on the bottom of the totem pole paying those dues, there are people that just will not tough it out. Your first jobs out of college also often suck (mine did) but it’s often long hours in an air conditioned office, not knee deep in mud or crappy weather trying to fix something you don’t know much about yet…
 
Idk there's quite a few Jobs that offer benefits with a HS degree nowadays. Starbucks has a bargaining agreement. Organized labor has been making some big strides recently.
Walmart
FedEx
Home Depot
Kroger

Don't have unions that I know of, only 25% of Starbucks stores are unionized... yada yada yada

Most unions jobs are classified as skilled labor eg. UAW
 
Very well could be or maybe it's a location specific thing but I kind of doubt that. I know quite a few guys in the trades that have attended college but that's not earning a degree.
Was referring to posts made by regular members.
 
Walmart
FedEx
Home Depot
Kroger

Don't have unions that I know of, only 25% of Starbucks stores are unionized... yada yada yada

Most unions jobs are classified as skilled labor eg. UAW
Yah for sure but even without union representation they still have benefits. A lot of which aren't much different bennies than offered at the white collar level with the degree requirement. Non union doesn't mean non benefits.
 
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2. Trades are a lot of work and it can really suck when you’re on the bottom of the totem pole paying those dues, there are people that just will not tough it out. Your first jobs out of college also often suck (mine did) but it’s often long hours in an air conditioned office, not knee deep in mud or crappy weather trying to fix something you don’t know much about yet…
Which is college v. trades and not working at Walmart for minimum wage instead starting a trade.

My point is if trades just require a HS degree than why is there such a high demand and why don't folks with hs degrees take those roles.
 
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